CocaCola Company (The) $KO Shares Sold by Berkshire Asset Management LLC PA

Key Points

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Berkshire Asset Management LLC PA lowered its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,223 shares of the company's stock after selling 3,634 shares during the quarter. Berkshire Asset Management LLC PA's holdings in CocaCola were worth $10,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Sumitomo Mitsui Financial Group Inc. increased its position in shares of CocaCola by 5.7% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 226,306 shares of the company's stock worth $16,208,000 after acquiring an additional 12,225 shares during the period. Andina Capital Management LLC purchased a new position in CocaCola in the first quarter valued at $220,000. Texas Capital Bank Wealth Management Services Inc increased its holdings in CocaCola by 50.9% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,217 shares of the company's stock valued at $517,000 after buying an additional 2,434 shares during the last quarter. Colonial Trust Advisors increased its holdings in CocaCola by 1.1% in the first quarter. Colonial Trust Advisors now owns 187,980 shares of the company's stock valued at $13,463,000 after buying an additional 1,998 shares during the last quarter. Finally, Financial Advisors Network Inc. purchased a new position in CocaCola in the first quarter valued at $385,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of KO traded up $0.5090 during mid-day trading on Wednesday, hitting $70.6390. 17,527,593 shares of the company's stock were exchanged, compared to its average volume of 13,082,515. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The firm has a market capitalization of $304.01 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.65 and a beta of 0.44. The business's 50 day moving average is $69.92 and its two-hundred day moving average is $70.24. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. On average, equities analysts expect that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. CocaCola's dividend payout ratio is 72.34%.

Analyst Ratings Changes

Several research firms recently commented on KO. BNP Paribas reissued an "outperform" rating and issued a $83.00 target price on shares of CocaCola in a report on Monday, July 21st. Morgan Stanley reissued an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group dropped their target price on CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $77.21.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the sale, the insider owned 209,513 shares in the company, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the sale, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

CocaCola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.